Henry has been reinstated by the NFL and was removed from the reserve/suspended list, a league source told Scout.com. Henry was suspended for one year by the NFL on Aug. 31, 2008 for violating the league's substance-abuse policy.

Henry has signed a plea deal in which he agreed to plead guilty to one charge of conspiracy to possess cocaine with intent to distribute, the Associated Press reports. The charge carries a mandatory 10 years to life in prison sentence along with a $4 million fine and five years of supervised release.

Henry was arrested for trafficking multiple kilograms of cocaine, the Rocky Mountain News reports. He and another man are being held pending the filing of federal drug charges in U.S. District Court in Denver.

The Broncos have released Henry (hamstring), CBS4Denver.com reports. "Although Travis has the ability to be one of the top running backs in the NFL, we have to make decisions that are in the best interests of our organization and its goal of winning a Super Bowl," coach Mike Shanahan said Monday. "We did not feel his commitment to the Broncos was enough to warrant a spot on this football team."

Just when most had written him off, Henry responded with a big 2006 performance, rushing for more than 1,200 yards in 14 games. Playing behind a poor offensive line and a rookie quarterback for much of the year, Henry averaged a career-best 4.5 YPC. In March he signed with the Broncos, who have long been one of the most effective running teams in the league. Henry isn’t a receiving threat and has missed 14 games the last three seasons, so he doesn’t come without risk, especially with the unpredictable Mike Shanahan to deal with. Still, there isn’t a system more conducive to huge running back numbers than Denver’s.
Henry is a decisive runner, which bodes well for Denver’s one-cut scheme. Before ranking eighth last year, the Broncos had a Top-5 rushing offense in each of the previous four seasons. The sub-par 2006 performance, at least by their standards, can largely be blamed on poor running back play. Mike Bell and Tatum Bell combined for 23 goal-line carries, so Henry should have ample opportunity to score. He’s also efficient from in close, scoring on half of his 10 goal-line tries last year.
While Henry could sit out some third downs, Denver surprisingly didn’t draft a running back, so Henry only faces Mike Bell as competition. The Broncos offense figures to be improved this season, as Jay Cutler earned valuable experience in his rookie year and is already an upgrade over Jake Plummer.

2006

Henry was expected to compete for the starting job with the Titans last season, but wound up playing second fiddle to Chris Brown more often than not due to his own injuries and a four-game suspension. He’s still just two years removed from back-to-back 1000-plus yard seasons with the Bills, however, and at 27 he’s still young enough to rebound if he gets a chance. The drafting of LenDale White further clouds the RB picture in Tennessee, so that chance probably won’t come with the Titans; look for Henry to see significant action only if he’s healthy when Brown isn’t, and White proves to be a bust.

2005

Henry is happy to have Buffalo in his rear-view mirror, but his value in Tennessee isn't easy to figure given that Chris Brown is an established back in his own right. Offensive Coordinator Norm Chow likes to utilize multiple backs - we saw this in his successful college days - so look for both Henry and Brown to get a lot of touches this season. For Henry to really take off as a fantasy play this season, Brown might have to get hurt, albeit that is something that's happened a fair amount of times in Brown's short career.

2004

Henry's understudy, Willis McGahee, appears to be close to where he was before a nasty knee injury on his final college play sidetracked his career. Henry's value may drop a tad in 2004 with McGahee having a larger role in the offense. That being said, Henry and McGahee will do more than just fight for carries and playing time, as coach Mike Mularkey plans to run several plays where the two line up in the same backfield. The offensive line should be improved, and the team should be running more in general. While Henry's fantasy value may drop a bit once McGahee starts eating up a portion of those yardage piles Henry's had all to himself the last two seasons, we don't envision a major decline in Henry's production. He’ll still be a pretty solid fantasy back (say the 10-15 range) if you can’t get one of the league’s elite. We’d feel safe with him as a late second-rounder. Think 1,150 rushing yards and 10-12 total TDs.

2003

Henry's understudy, Willis McGahee, appears to be close to where he was before a nasty knee injury on his final college play sidetracked his career. Henry's value may drop a tad in 2004 with McGahee having a larger role in the offense. That being said, Henry and McGahee will do more than just fight for carries and playing time, as coach Mike Mularkey plans to run several plays where the two line up in the same backfield. The offensive line should be improved, and the team should be running more in general. While Henry's fantasy value may drop a bit once McGahee starts eating up a portion of those yardage piles Henry's had all to himself the last two seasons, we don't envision a major decline in Henry's production. He’ll still be a pretty solid fantasy back (say the 10-15 range) if you can’t get one of the league’s elite. We’d feel safe with him as a late second-rounder. Think 1,150 rushing yards and 10-12 total TDs.